Published on 1/22/2007 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2 million 15.125% reverse convertibles linked to Smith & Wesson
By Laura Lutz
Iowa City, Jan. 22 - Credit Suisse (USA), Inc. priced $2 million of 15.125% reverse convertible securities due Jan. 24, 2008 linked to Smith & Wesson Holding Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par unless Smith & Wesson stock falls below the knock-in price of $7.15 - 65% of the initial share price - during the life of the notes and finishes below its initial price of $11.00 on Dec. 21, 2007, the valuation date, in which case the payout will be a number of Smith & Wesson shares equal to $1,000 divided by the initial share price.
Issuer: | Credit Suisse Securities (USA), Inc.
|
Issue: | Reverse convertible securities
|
Underlying stock: | Smith & Wesson Holding Corp.
|
Amount: | $2 million
|
Maturity: | Jan. 24, 2008
|
Coupon: | 15.125%, payable quarterly
|
Price: | Par
|
Payout at maturity: | Par unless Smith & Wesson stock falls below the knock-in price of $7.15 during the life of the notes and finishes below its initial share price, in which case payout will be 90.909 shares of Smith & Wesson stock
|
Initial share price: | $11.00
|
Knock-in price: | $7.15, 65% of $11.00
|
Pricing date: | Jan. 19
|
Settlement date: | Jan. 25
|
Agent: | Credit Suisse Securities (USA) LLC
|
Agent's fee: | 2.8%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.